Flywire (NASDAQ:FLYW) Director Phillip John Riese Sells 5,000 Shares

Flywire Corporation (NASDAQ:FLYW) Director Phillip John Riese sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $15.43, for a total value of $77,150.00. Following the completion of the transaction, the director owned 234,493 shares of the company’s stock, valued at approximately $3,618,226.99. The trade was a 2.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Phillip John Riese also recently made the following trade(s):

• On Wednesday, May 6th, Phillip John Riese sold 37,921 shares of Flywire stock. The shares were sold at an average price of $16.87, for a total value of $639,727.27.

Flywire Stock Down 0.2%

FLYW opened at $14.58 on Friday. The stock has a market cap of $1.80 billion, a PE ratio of 63.39, a PEG ratio of 1.00 and a beta of 1.34. The business has a 50 day moving average of $14.18 and a 200-day moving average of $13.52. Flywire Corporation has a 52 week low of $9.97 and a 52 week high of $18.05.

Flywire (NASDAQ:FLYW) last released its earnings results on Tuesday, May 5th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.07. The company had revenue of $184.00 million during the quarter, compared to analysts’ expectations of $170.24 million. Flywire had a return on equity of 3.78% and a net margin of 4.45%.The firm’s revenue for the quarter was up 40.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.03) EPS. Equities analysts anticipate that Flywire Corporation will post 0.42 EPS for the current year.

Institutional Trading of Flywire

A number of institutional investors and hedge funds have recently modified their holdings of FLYW. Essential Partners LLC increased its holdings in shares of Flywire by 219.1% in the 1st quarter. Essential Partners LLC now owns 2,288 shares of the company’s stock worth $27,000 after purchasing an additional 1,571 shares in the last quarter. Global Retirement Partners LLC bought a new stake in shares of Flywire in the fourth quarter worth $32,000. KBC Group NV bought a new stake in shares of Flywire in the first quarter worth $38,000. Leonteq Securities AG grew its holdings in shares of Flywire by 267.6% in the first quarter. Leonteq Securities AG now owns 3,540 shares of the company’s stock worth $41,000 after acquiring an additional 2,577 shares during the period. Finally, Daiwa Securities Group Inc. grew its holdings in shares of Flywire by 78.4% in the second quarter. Daiwa Securities Group Inc. now owns 5,681 shares of the company’s stock worth $66,000 after acquiring an additional 2,497 shares during the period. Institutional investors own 95.90% of the company’s stock.

Wall Street Analyst Weigh In

FLYW has been the subject of a number of analyst reports. Citigroup raised their price objective on Flywire from $13.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. JPMorgan Chase & Co. raised Flywire from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $14.00 to $16.00 in a research report on Thursday, May 21st. Royal Bank Of Canada raised their price objective on Flywire from $18.00 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday, February 25th. BTIG Research raised their price objective on Flywire from $17.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Finally, Morgan Stanley raised their price objective on Flywire from $17.00 to $20.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $18.07.

Flywire Company Profile

Flywire Corp (NASDAQ: FLYW) is a global payments enablement and software company that specializes in facilitating complex cross-border transactions. Its cloud-based platform streamlines receivables and payer workflows across key verticals including education, healthcare, travel and hospitality, and commercial services. Flywire’s technology integrates with institutional systems to automate payment posting, reconciliation and reporting, aiming to improve the payer experience and accelerate cash flow for its clients.

Founded in 2009 by entrepreneur Iker Marcaide as peerTransfer, the company rebranded as Flywire in 2015.